Stock Investing
How VEREIT (NYSE: VER) Stock shot up on Friday Morning?
So, What’s New The shares of VEREIT (NYSE: VER) closed Friday at around $37.86 in contrast with the previous close of $7,70. The calculation on that move, though, is meaningless. This price move was widely expected. Management announced plans to perform a 5-for-1 reverse stock split on Nov. 5, when it announced its third-quarter earnings. The number of shares doesn’t change with stock splits, only the number of shares. After the split, proportional ownership will remain the same among shareholders. Meanwhile, the dividend will now be $0.385 per share, a five-fold increase over what it was before the reverse split.
